Cintas Co. (NASDAQ:CTAS) Shares Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC trimmed its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 22.4% in the second quarter, Holdings Channel reports. The firm owned 2,966 shares of the business services provider’s stock after selling 856 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Cintas were worth $2,077,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC boosted its position in Cintas by 311.1% during the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after purchasing an additional 28 shares during the period. Atwood & Palmer Inc. purchased a new stake in Cintas during the 2nd quarter worth $27,000. Pathway Financial Advisers LLC purchased a new stake in Cintas during the 1st quarter worth $29,000. Rise Advisors LLC purchased a new stake in Cintas during the 1st quarter worth $30,000. Finally, Meeder Asset Management Inc. boosted its position in Cintas by 226.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock worth $34,000 after purchasing an additional 34 shares during the period. 63.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Gerald S. Adolph sold 4,400 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total transaction of $842,292.00. Following the sale, the director now owns 125,808 shares in the company, valued at $24,083,425.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 15.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CTAS. Wells Fargo & Company raised shares of Cintas to a “strong sell” rating in a research report on Tuesday, August 13th. Morgan Stanley upped their price objective on shares of Cintas from $143.75 to $156.25 and gave the company an “equal weight” rating in a research report on Friday, July 19th. Baird R W cut shares of Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. Truist Financial upped their price objective on shares of Cintas from $193.75 to $212.50 and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, Royal Bank of Canada cut shares of Cintas from an “outperform” rating to a “sector perform” rating and set a $181.25 price objective for the company. in a research report on Monday, July 15th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $185.41.

Cintas Stock Performance

Shares of CTAS stock opened at $204.95 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 1.74. Cintas Co. has a one year low of $118.68 and a one year high of $209.12. The company’s 50-day simple moving average is $204.83 and its 200-day simple moving average is $181.35. The stock has a market capitalization of $20.79 billion, a price-to-earnings ratio of 14.15, a PEG ratio of 4.36 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Thursday, July 18th. The business services provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.05. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.47 billion. Cintas had a net margin of 16.38% and a return on equity of 37.82%. Cintas’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.83 earnings per share. Equities analysts anticipate that Cintas Co. will post 16.64 earnings per share for the current fiscal year.

Cintas announced that its Board of Directors has approved a stock repurchase plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the business services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Cintas Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were paid a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.56 annualized dividend and a yield of 0.76%. Cintas’s dividend payout ratio (DPR) is 10.77%.

About Cintas

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.